Another active month in the Greater Vancouver real estate market, with a significant increase in condo benchmark price from last year
Home sales in the Greater Vancouver Area surged yet again last month, with an increase of nearly 23% from April 2017. This month's detached sales are only 8.5% lower than those of May 2016, which continues to hold the record for the busiest May on file, according to the Real Estate Board of Greater Vancouver.
Even though their sales are lower year over year, condos continue to be the hottest commodity in the Greater Vancouver market, with the sales-to-active ratio jumping from 82.8% in April to an astonishing 94.6% in May.
The MLS® Home Price Index composite benchmark price for Metro Vancouver is at $967,500, representing an 8.8% increase from May of last year and a 2.8% increase from last month.
For a more detailed overview of last month's stats, check out our infographic below.
Metro Vancouver Real Estate Board Stats May 2017
For an in-depth analysis of these statistics, see our full story here.
